Buying and Selling Commercial Properties
Our expert solicitors can support you at every stage of buying and selling commercial properties.
BUYING AND SELLING Commercial PROPERTIES
Comprehensive legal service for anyone buying or selling commercial properties
To discuss your legal needs when buying or selling commercial property please speak to a member of our specialist team in St Albans or Luton.
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Frequently asked questions
I’m selling my property, when should I cancel my insurance?
The standard position is that the buyer takes the risk on exchange of contracts, but the answer will depend on the specifics of the transaction and the provisions agreed in the contract. If the property is sold subject to any tenancies, it is common for the parties to agree that the seller insures until completion.
Do I need an EPC (Energy Performance Certificate) to sell my property?
Yes, unless one of a number of limited exemptions apply. In the vast majority of cases an EPC should be commissioned before marketing the property so that prospective purchasers may review the information.
I can’t find a copy of the Deeds for the property that I am looking to sell / purchase, what should I do?
In most cases you will be able to obtain official copies of the relevant title documentation / deeds from the Land Registry, assuming that the property is registered at the Land Registry. If that is not possible, please contact us to discuss other options.
I want to sell my leasehold property, do I need the consent of my landlord?
You should refer to the alienation/assignment provisions of the lease to answer this one. Standard commercial leases tend to contain prohibitions on assignment without the consent of the landlord and therefore require the landlord’s consent to an assignment.
The lease may also state that the landlord cannot unreasonably withhold consent, or that consent may be granted subject to conditions such as guarantees or rent deposits being supplied to the landlord.
What steps do I need to take after the purchase of my property has been completed?
The following post-completion steps may be required, although some of the below will not be applicable to all transactions:
Registering your purchase at the Land Registry;
Paying any Stamp Duty Land Tax (“SDLT”) that may be due and submitting the SDLT Return;
Registering mortgages/other security at the Land Registry and/or Companies House;
Notifying third parties of the transaction, for example, a Notice of Transfer may be required to be sent to a landlord following the assignment of a lease.
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